Salary Needed to Live in Rockford as a Retiree
A retired individual (65+) needs approximately $17,148/year to live comfortably in Rockford, IL — including 5% savings.
Comfortable Salary
$17,148
with 5% savings
Bare Minimum
$15,989
no savings buffer
Monthly Expenses
$986
18% below national avg
Detailed Monthly Budget for a Retiree in Rockford
| Expense | Rockford | Nat'l Avg | Diff |
|---|---|---|---|
| 🏠 1-2BR Senior-Friendly Rent | $108 | $121 | -11% |
| 🛒 Groceries | $15 | $16 | -6% |
| ⚡ Utilities | $13 | $15 | -13% |
| 🚗 Transportation | $17 | $18 | -6% |
| 🛡️ Car Insurance | $144 | $211 | -32% |
| 🏥 Health Insurance | $42 | $53 | -21% |
| Medicare Supplement | $168 | $200 | -16% |
| Prescription Drugs | $126 | $150 | -16% |
| Internet + Phone | $101 | $120 | -16% |
| Recreation & Social | $168 | $200 | -16% |
| Home Maintenance | $84 | $100 | -16% |
| Total Monthly | $986 | $1,204 | -18% |
How We Calculated the Salary
Monthly expenses:$986
Target savings (5%):$56/mo
Monthly after-tax needed:$1,042
Effective tax rate:26%
Gross annual salary needed:$17,148
Other Household Types in Rockford
Related Pages
FAQ
What salary does a retiree need in Rockford?
A retiree needs approximately $17,148/year ($1,429/month gross) to live comfortably in Rockford with a 5% savings rate.
How much is rent for a retiree in Rockford?
A 1-2br senior-friendly in Rockford costs approximately $108/month, which is the largest single expense at 11% of the total budget.
Is Rockford affordable for a retiree?
Yes, Rockford is 18% more affordable than the national average for a retiree.